Purchasing a property in Italy, Salento, by Davide Mengoli

Purchasing a property in Italy.

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Deposit-price. If you buy a house you can leave the money with the notary: this is how it works
What is the price deposit to the notary?

This is an option, recognized to both parties who sign the deed, which allows you to leave the sums that make up the purchase price to the notary, to protect the goodness of the purchase itself or to guarantee the fulfillment of a certain obligation. of a part or the occurrence of a certain condition.
At the time of signing, the notary checks that there are no encumbrances on the property (mortgages, foreclosures, charges). At the time of signing, the deed is valid between the parties. The "security" up to the stipulation date is the full responsibility of the notary. The problem is the burdens "subsequent" to the deed, which the notary cannot know at the time of completion. The definitive "certainty" of the purchase derives in fact from the registration in the real estate registers: there is therefore a period of time, between the completion and the date of registration in the registers, in which burdens could be registered (think of a mortgage for non-payment tax), or, in the event of fraud, that the seller makes several sales of the same property.
Whoever enters or transcribes first always prevails, whatever the date of signing. In the examples given, the buyer, after having paid the price, would not be the owner and would have to retaliate against the seller.

The law sets a deadline of 30 days for the transcription, however asking the notary to do it "as quickly as possible", a transcription is "timely" in 3-5 days. Therefore, a notary who meets this deadline is certainly diligent.
How much does the deposit on price cost?
It is a liability service: keeping sums sometimes large on deposit for a few days. The cost is entrusted to the sensitivity of the individual notary and the client, also taking into account the "importance" and "riskiness" of the case.

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